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Midas Edge

Metropolitan Bank Holding Corp

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 2, 2024

MCB$96.43+1.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Consolidated Statements of Operations

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

(in thousands, except per share data)

​​​​​​​​​​​​​
​ · ​ · Three months ended June 30, · ​ · Six months ended June 30,
​2024202320242023
Interest and dividend income​​​​​​​​​​​​
Loans, including fees​$104,595​$80,516​$206,976​$156,476
Securities​​5,493​​4,683​​10,637​​9,178
Overnight deposits​​5,167​​3,086​​9,321​​5,570
Other interest and dividends​​506​​693​​1,162​​1,017
Total interest income​​115,761​​88,978​​228,096​​172,241
Interest expense​​​​​​​​​​​​
Deposits​​50,555​​27,403​​97,441​​49,776
Borrowed funds​​3,287​​7,461​​8,648​​9,487
Trust preferred securities​​380​​363​​759​​693
Total interest expense​​54,222​​35,227​​106,848​​59,956
​​​​​​​​​​​​​
Net interest income​​61,539​​53,751​​121,248​​112,285
Provision for credit losses​​1,538​​4,305​​2,066​​4,951
Net interest income after provision for credit losses​​60,001​​49,446​​119,182​​107,334
​​​​​​​​​​​​​
Non-interest income​​​​​​​​​​​​
Service charges on deposit accounts​​2,094​​1,481​​3,957​​2,937
Global Payments Group revenue​​3,686​​5,731​​7,755​​10,581
Other income​​359​​643​​1,431​​1,311
Total non-interest income​​6,139​​7,855​​13,143​​14,829
​​​​​​​​​​​​​
Non-interest expense​​​​​​​​​​​​
Compensation and benefits​​18,532​​15,288​​38,359​​31,543
Bank premises and equipment​​2,322​​2,287​​4,665​​4,631
Professional fees​​6,916​​4,973​​12,888​​9,160
Technology costs​​3,043​​1,482​​6,054​​2,795
Licensing fees​​3,180​​3,014​​6,456​​5,676
FDIC assessments​​2,925​​1,640​​5,850​​4,454
Regulatory settlement reserve​​—​​—​​—​​(2,500)
Other expenses​​5,339​​3,758​​9,885​​7,708
Total non-interest expense​​42,257​​32,442​​84,157​​63,467
​​​​​​​​​​​​​
Net income before income tax expense​​23,883​​24,859​​48,168​​58,696
Income tax expense​​7,084​​9,298​​15,166​​18,059
Net income​$16,799​$15,561​$33,002​$40,637
​​​​​​​​​​​​​
Earnings per common share​​​​​​​​​​​​
Basic earnings​$1.50​$1.39​$2.96​$3.65
Diluted earnings​$1.50​$1.37​$2.96​$3.59
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.